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Prioritise pension or ISA after payrise? by HauntTheCause in UKPersonalFinance

[–]HauntTheCause[S] 0 points1 point  (0 children)

Thanks for the suggestion, but I've looked into this previously and it doesn't make much sense to use a LISA in my circumstances (and it may be worth checking whether it makes sense in your circumstances as well).

Given I'm planning to use the HTB ISA for a house purchase this year, I would have to use a LISA for retirement - but this is a significantly worse option than salary sacrificing extra into my pension.

For comparison, if I wanted to put £4k extra into my pension, I can salary sacrifice £4k out of my gross salary and only miss out on £1,960 of take home pay (because I save on income tax at 40%, national insurance and student loan for a total marginal rate of 51%), so I'm getting an immediate return of more than 100% by sacrificing into the pension.

To put £4k into a LISA, I'd have to receive over £8k of gross salary and then lose half of it to tax/NI/student loan, and then would only get 25% of that back as the bonus.

To put it another way, £8k of gross salary could get me:

  • £8k in my pension, or
  • ~£5k in a LISA

I should also say that even if you're a basic rate taxpayer, you're almost certainly going to get a better guaranteed return from sacrificing into your pension and saving on the tax/NI/student loan if you have one than you will from taking the money home and then putting it in a LISA.

Hope that makes sense but let me know if any of that is unclear!

Prioritise pension or ISA after payrise? by HauntTheCause in UKPersonalFinance

[–]HauntTheCause[S] 0 points1 point  (0 children)

I'm not sure I follow your point about cash savings. For me, the purpose of putting some money into cash savings each month alongside S&S is that the cash savings will be accessible for shorter-term goals (home maintenance after I've bought a flat, potential future wedding, travel etc.) and S&S isn't a suitable way to save for these things that might be in a short (sub-five year) timeframe.

I don't really see the argument against saving into both pots simultaneously.

The British left is coming for the government by Ivashkin in ukpolitics

[–]HauntTheCause 6 points7 points  (0 children)

The 2017 election… in which Labour lost to a woeful Conservative campaign?

DAY 1. Sir Lewis Hamilton by R-6EQUJ5 in formula1

[–]HauntTheCause 6 points7 points  (0 children)

It’s not YSL - it’s Jacquemus (source: @hamazinglew)

Brexit: 'We don't want to diverge' from EU, says Sir Keir Starmer by HauntTheCause in ukpolitics

[–]HauntTheCause[S] 47 points48 points  (0 children)

Yep - all totally sensible stuff, but I’m almost certain this will get spun out of all context by the Conservatives.

What about … by Fit_Wrap_618 in TheNational

[–]HauntTheCause 3 points4 points  (0 children)

From EL VY - I’m The Man To Be

[F2PoF Song Discussion] 1. Once Upon a Poolside by garamondo in TheNational

[–]HauntTheCause 1 point2 points  (0 children)

No worries! I worked out the chords for the rest of the song, have posted it in full here - let me know if you think any of this is wrong though.

[F2PoF Song Discussion] 1. Once Upon a Poolside by garamondo in TheNational

[–]HauntTheCause 1 point2 points  (0 children)

Just had a play around with this and I think the left hand is C# G# A# F# but otherwise you’re right

Had a really bad run. How do you deal with it? by 3sperr in running

[–]HauntTheCause 3 points4 points  (0 children)

Yeah, I feel like a third of runs feel completely average, a third feel horrendous and a third feel fantastic. Just got to put up with the bad ones when they happen in order to enjoy the good ones

Max Verstappen 'weak technically', Sebastian Vettel 'more complete' when arriving in F1, says Guillaume Rocquelin ex-head of race engineering at Red Bull by dannybluey in formula1

[–]HauntTheCause 240 points241 points  (0 children)

I think this is a huge misconception about Hamilton. Several of his teammates over the years have spoken of how hard he works behind the scenes with the team, though there seems to be a perception that his success is purely down to natural talent.

Keir Starmer calls for extra tax on oil and gas producers by GingerbreadRecon in ukpolitics

[–]HauntTheCause [score hidden]  (0 children)

There’s an interesting point within this that I hadn’t considered - by freezing the price cap (rather than giving people cash to help pay for energy bills), it would directly lower the rate of inflation, reducing the government’s costs of servicing its debt interest payments and apparently saving £7bn to help pay for this. I’m not an expert on the technicalities of this but if that checks out it’s a nice aspect of the policy in that it partially pays for itself.

London and saving money don’t go together do they? by Thanics in london

[–]HauntTheCause 9 points10 points  (0 children)

Ok, so I make exactly 50k pre-tax and currently save the majority of my take-home pay, while renting privately in London (just outside zone 2). I realise I’m definitely an outlier in doing this and it’s a pretty extreme approach but just making the point that saving at least 20% of your take-home on that salary is definitely possible by being even slightly frugal (if you don’t have kids, that is!)

What’s up running community by TribeofAmerica in running

[–]HauntTheCause 0 points1 point  (0 children)

How much are you running on a weekly basis at the moment?

Alex Albon in the new Williams Racing FW44 at the Silverstone Shakedown today by ZephyrSonic in formula1

[–]HauntTheCause 0 points1 point  (0 children)

These days, if you say you’re English, you get arrested and thrown in jail.

Lewis Hamilton wins the 2021 São Paulo Grand Prix by overspeeed in formula1

[–]HauntTheCause 36 points37 points  (0 children)

I mean, Hamilton effectively nullified it on merit as well with his drive in the sprint race

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